SES Shares Drop 5.19% to €7.68 Despite Upgrades from Two Analysts
The Luxembourg-based satellite operator experiences a sharp decline mid-session, following its rally the previous day. The SES stock is among the biggest losers in the SBF 120, in a Parisian market itself down by 1.38%. The correction occurs despite the raising of price targets by two firms.
Significant Consolidation After a Rally of Nearly 60% Over a Year
SES shares are down 5.19% at €7.68 at midday, compared to €8.10 the previous day. The stock is among the largest declines in the SBF 120, while the index itself is down 1.36% during the session. This drop comes after a four-year high of €8.22 was reached intraday, as noted in Thursday's session. The consolidation remains limited in light of the underlying momentum. The stock still holds a gain of 59.67% over one year and 17.07% over three months. An RSI of 75 reflects an overbought configuration, consistent with the magnitude of the recent rally. The price moves in the upper part of the Bollinger band (at 78% of the width), just below the upper limit at €8.14, which coincided with the previous day's peak. The technical resistance of €8.10 thus acted as a ceiling.
Two Targets Raised the Day Before, Including One to €8.50 by BNP Paribas Exane
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Today's movement paradoxically comes with an improvement in analyst views. BNP Paribas Exane raised its price target from €7.10 to €8.50 with an outperform rating, representing a potential upside of about 10.7% from the current price. Morgan Stanley increased its target from €6.50 to €7.00 with a market-weight rating, a level now below the current price. The stock remains well above all its moving averages: 8.5% above the MM20 (€7.08), 16.7% above the MM50 (€6.58), and 23.9% above the MM200 (€6.20). This marked gap allows for breathing phases like today's. The next key event on the calendar is the publication of the half-yearly results for 2026, expected on July 30, 2026.
SectorTélécommunications›Équipements de Télécommunications
Context
Period
Period: 3T/9M 2025
Guidance from the release
I am pleased to report our solid 9 months 2025 results which include the first quarter for the combined company following the successful close of the Intelsat acquisition on 17 July 2025.
Croissance tirée par le segment Networks (Aviation, Government), intégration d'Intelsat en bonne voie, carnet de commandes brut de €7,1 billion, lancements O3b mPOWER 9 & 10 réussis et règlement d'assurance partiel d'environ $87 million.
Risks mentioned
Risque de ne pas atteindre les synergies attendues de l’acquisition d’Intelsat
Retards ou échecs de lancements ou problèmes opérationnels des satellites
Risques réglementaires et obtention d’approbations
Pressions concurrentielles et évolution technologique réduisant la demande
Opportunities identified
Positionnement multi-orbit renforcé pour capter la croissance longue durée
Expansion du business Aviation (plus de 3,000 tails; 200 nouveaux tails gagnés depuis clôture)
Augmentation de capacité et résilience avec les satellites O3b mPOWER supplémentaires
Carnet de commandes et renouvellements importants (nouveau business et renewals > €1,4 billion YTD)
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
